HomeMy WebLinkAbout063 - 06/20/2000 - APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL PROJECTS FUND AND IN THE SALES AND USE TAX FUND FOR ORDINANCE NO. 63, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL PROJECTS FUND
AND IN THE SALES AND USE TAX FUND
FOR TRANSFER TO THE CAPITAL PROJECTS FUND
TO BE USED FOR THE CITY'S PAVEMENT MANAGEMENT PROGRAM
WHEREAS,historically,street maintenance has been a high priority issue with City Council
and with the community, as evidenced by the passage of an eight-year, 0.25 cent sales and use tax
(excluding grocery food)to finance street maintenance in 1989, and the extension of that 0.25 cent
sales and use tax, approved by voters in April, 1997, to finance Building Community Choices
Capital Improvements for Streets and Transportation projects; and
WHEREAS,even though funds have been allocated for street maintenance,a gap exists and
continues to grow between the current level of funding and the funding needed to maintain pavement
conditions of City streets at an acceptable level; and
WHEREAS, continued underfunding of street maintenance needs results in further
deterioration of the street system which in turn results in more costly repairs to restore pavement
conditions to an acceptable level; and
WHEREAS,with the adoption of the 2000-2001 City budget, City Council directed staff to
search for options to fund transportation maintenance needs; and
WHEREAS, the Transportation Funding Advisory Team presented a report to the City's
Finance Committee on April 13, 2000, providing options for closing the funding gap for the
Pavement Management Program as well as addressing other transportation maintenance needs;and
WHEREAS, the estimated cost of closing the funding gap for the Pavement Management
Program in 2000 requires an additional appropriation of$1,721,340; and
WHEREAS, staff is recommending that an additional $326,000 be appropriated from prior
year reserves in the Capital Projects Fund, representing unspent revenues from the 0.25 cent
dedicated sales and use tax for street maintenance that expired on December 31, 1997, and that
$1,395,340 be appropriated from the use tax carryover reserve in the Sales and Use Tax Fund; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins(the"Charter")
permits the City Council to appropriate by ordinance at any time during the fiscal year such funds
for expenditure as may be available from reserves accumulated in prior years,notwithstanding that
such reserves were not previously appropriated; and
WHEREAS, Article V, Section 9, of the Charter also permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year,provided that the total
amount of such appropriations,in combination with all previous appropriations for that fiscal year,
does not exceed the then current estimate of actual and anticipated revenues to be received during
the fiscal year; and
WHEREAS,it is the desire of the Council to appropriate$326,000 from prior year reserves
in the Capital Projects Fund and$1,395,240 from prior year reserves in the Sales and Use Tax Fund,
for transfer to the Capital Projects Fund - Building Community Choices Pavement Management
Program to be used for street maintenance.
NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That there is hereby appropriated from prior year reserves in the Capital
Project 1/4 Cent Street Maintenance Fund the amount of THREE HUNDRED TWENTY-SIX
THOUSAND DOLLARS ($326,000) and authorized for transfer to the Capital Projects Fund -
Building Community Choices Pavement Management project, and appropriated therein to be used
for street maintenance.
Section 2. That there is hereby appropriated from prior year reserves in the Sales and Use
Tax Fund the amount of ONE MILLION THREE HUNDRED NINETY-FIVE THOUSAND TWO
HUNDRED FORTY DOLLARS ($1,395,340) and authorized for transfer to the Capital Projects
Fund - Building Community Choices Pavement Management project, and appropriated therein to
be used for street maintenance.
Introduced and considered favorable on first reading and ordered published this 6th day of
June, A.D. 2000, and to be presented for final passage on the 20th day ne, A.D. 2000.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 20th day of June, A.D. 2000.
Mayor of-ll TIM
ATTEST:
City Clerk